Galaxy Digital Holdings Ltd., a Canadian-based financial services and investment management company in the digital asset, cryptocurrency and blockchain technology sectors, has purchased substantially all of the assets of GK8, an institutional digital asset custody business, for approximately $44 million.

By acquiring GK8’s suite of custody technology and services, Galaxy aims to improve how clients store digital assets. GK8’s technology also works to boarden ecosystem access by helping with staking, decentralized finance networks (DeFi), tokenization, NFT support and trading services.

“In addition to continuing to offer highly valuable custody technology to clients, the GK8 team will play a pivotal role in our evolution to offer a full-service financial platform for digital assets,” says Mike Novogratz, founder and CEO of Galaxy.